Parliamentary Loan Charge enquiry launches online survey
The 2019 Loan Charge All-Party Parliamentary Group (APPG) is urging contractors affected by the Loan Charge to complete a new online survey that they have launched to assist their investigation into the controversial new tax.
Thousands of taxpayers are set to be affected by the new Loan Charge tax, which is expected to recover £3.2 billion in avoided tax spanning the previous twenty years. Following a concerted lobbying effort on the part of affected individuals, Parliament voted to force the Treasury to review the tax last month, spurring the creation of the Loan Charge APPG, a cross-party committee chaired by Lib Dem MP Sir Edward Davey.
The APPG’s investigation into the Loan Charge is independent of the Treasury review and is presumably intended to provide MPs with an informed context with which to interpret the Treasury’s response, which must be given to Parliament before the end of March. As such they have requested as much written evidence as possible from affected taxpayers and their advisers, with the deadline for submissions being Wednesday 6th March at 5pm.
The APPG have been overwhelmed with evidence and have already had to push back the deadline for written submissions. Yesterday they launched an online survey, which should simplify the process for affected taxpayers that want to their circumstances to be taken into account in the investigation and make it easier for the investigators to collate data. Survey answers are confidential and the APPG commit not to share any answers with HMRC.
The survey can be found here: https://lcagappgsurvey.typeform.com/to/NqM1mx
The APPG main website is here: http://www.loanchargeappg.co.uk/
The deadline for submissions is the same as the deadline for written evidence: Wednesday 6th March by 5pm.
26th February 2019.